In association with African Business Magazine, market leaders in providing country supplements, industry reports and market intelligence on Africa.
Find out more +
Deal news
Proparco and Energy Access Ventures back Solarise Africa investment round
Energy Access Ventures (EAV) announced a follow-on investment in Solarise Africa, a pan-African clean energyand energy efficiency leasing company. The round was led by French development finance institution Proparco which invested the dollar equivalent of €4m in quasi- equity through the AFD Group EU-funded African Renewable Energy Scale-Up facility, alongside existing
investors EAV and EDFI ElectriFI, an EU-funded impact investment facility.
Digital health provider BIMA raises $30m from CreditEase, LeapFrog and Allianz X
BIMA, a Stockholm and London-based provider of digital health and insurtech solutions in emerging markets, has closed a $30m equity investment round. The company, which claims to have
reached 35m people in Asia and Africa, has a health hub approach, giving customers access to integrated health services, including health programmes for managing chronic illnesses, discounts at pharmacies and drug delivery. Its health wallet for funding medication-based expenses has been extended to masks and hand sanitisers during the pandemic
Postal Bank of Congo obtains medium-term financing from BDEAC
Postal Bank of Congo (BPC) has obtained medium-term financing of over €15m ($17.5m) from the Development Bank of Central African States (BDEAC). The loan marks the first collaboration between the banks and will help support the private sector in the Republic of Congo. With the support of BDEAC, BPC will increase its loans to traders, businesses and SMEs, in a context where the economic and social impacts of Covid-19 are expected to be substantial. ARIES Investissements acted as financial advisor in this transaction.
PAYG solar company Greenlight Planet raises 90m for expansion
Greenlight Planet is set to expand its pay-as-you-go (PAYG) solar consumer financing business and consolidate its debt portfolio after raising $90m in new financing. Development finance institutions including CDC, Dutch FMO and Norway’s Norfund contributed to the equity and debt funding round as did impact investors ResponsAbility, SIMA Funds, Symbiotics, Global Partner ships and private equity firm ARCH Emerging Markets Partners’ Africa Renewable Power Fund
EFAfrica Group raises acquires Tanzanian business EFTA
EFAfrica Group has raised $12m for regional expansion and acquired Tanzanian equipment finance business EFTA. The funding was raised from investors including KfW on behalf of the German Federal Ministry for Economic Cooperation and Development, the Small Foundation and the Mennonite Economic Development Association. EFTA’s shareholders, including AgDevCo and Equity for Africa, will become shareholders in EFAfrica Group. EFTA’s financing has directly or indirectly supported over 10,000 jobs, with 64% of its borrowers in rural and mixed-rural areas.
DFC provides $35m financing to Nigerian solar energy company
Solar home systems provider Lumos has secured $35m in new financing from the US International Development Finance Corporation (DFC). The financing will enable Lumos to deploy 160,000 new solar home systems, which will be used to power households and small businesses across Nigeria.
Read this Deal news, including Deal of the month and more via African Business Magazine
